Brown University of Providence

“The advisory & executive committee shall consist of the president (chair), the chancellor, the vice chancellor, the secretary, and the treasurer, all ex officio, and at least nine additional members of the corporation of whom at least two shall be fellows and three trustees. The chairs of the committees on academic affairs, budget & finance, campus life, advancement, facilities & campus planning, audit, medical school and investment shall always be among the members of the advisory & executive committee. Three fellows and four trustees shall constitute a quorum. The committee may transact any business of the corporation except the location of buildings and the election of trustees, fellows, and the president. In addition to the powers of the minor quorum, the committee, by action of the corporation, is authorized to appoint professors. The acts of the advisory & executive committee shall be valid until the next meeting of the corporation, and no longer unless approved by the corporation.”

“Maria Zuber and Brian Moynihan have a business relationship as both sit on the board of another organization.”

“The return is prepared by the university and reviewed by the university's tax consultants. A draft version of the form 990 is provided to the controller, vice president for finance and chief financial officer, executive vice president for finance & administration, and the committee on risk and audit for review. Changes/comments are submitted to management and any necessary changes are made prior to the final review and signing of the tax return by the university's independent auditors/tax consultants. The final tax return is provided to the board prior to filing.”

“Brown university requires that all members of the brown university community adhere to the university's conflict of interest and commitment policy (coicp). University community members must disclose potential, actual, or perceived conflicts to the appropriate university representative. The university representative must ensure that the conflicts are reported and resolved according to the process defined in the relevant reporting and review process. Certain members of the brown community, including all corporation members, and all members of the corporation's standing committees; and all academic appointees, and staff (as defined in the coicp policy), are required to submit annual disclosure forms and update these forms as conflicts or potential conflicts are identified, as applicable, to the appropriate university representative in accordance with internal reporting timeframes and procedures. University representatives have the authority to and are responsible for: -conducting conflict of interest and commitment reviews in accordance with all applicable policies and guidelines. -ensuring management plans are established and documented for those reported conditions/situations that reasonably appear to create conflicts of interest orcommitment. -providing appropriate oversight of identified conflicts of interest or commitment and associated management plans with other university officials and offices as circumstances require, to ensure each potential or actual conflict is evaluated,resolved, or managed. If a community member fails to comply with the coicp and related policies, that individual is subject to disciplinary action, up to and including suspension without pay, or termination of employment or association with the university, in accordance with applicable (e.g., staff,faculty, student) disciplinary procedures. The university's investment office also has strict investment policies intended to maintain the highest ethical and legal standards and avoid conflicts. All members of the corporation, including the president, disclose information annually related to conflict of interest and commitment. If there is consideration to hire a firm that could potentially present a conflict, the investment office seeks the advice and consent of the corporation office and general counsel. All members of the investment committee must recuse themselves and refrain from participation in consideration of any investment in which they have an interest.”

“The authority to establish and adjust compensation for the president and senior staff rests with the corporation committee on senior administration. Senior staff includes officers reporting to the president, the deans and vice presidents or their equivalents who report to the provost and/or the executive vice president for finance & administration, any other university employee whose annual compensation is in excess of $250,000, and others whose responsibilities might be determined to reflect significant influence over the affairs of the university. The committee conducts their review annually and, as part of their review process, uses data and information from surveys reflecting industry standards for compensation, benefits, and prerequisites of senior officers either at institutions of higher education or at comparable entities. Documentation of this review, as well as any decisions made, are prepared before the next meeting of the committee on senior administration, or 60 days after the final actions of the committee to set salaries, whichever is later. The committee formally approves the documentation within a reasonable time after it is prepared.”

“The university's financial statements, conflict of interest policies, and governing documents (charter and statutes) are made available to the public upon request and on our website.”

“To serve the community, the nation, and the world by discovering, communicating, and preserving knowledge and understanding in a spirit of free inquiry, and by educating and preparing students to discharge the offices of life with usefulness and reputation. Brown accomplishes this through a partnership of students & teachers in a unified community called a university college.”

“Instruction / enrollment includes cost of supplies, salaries and benefits associated with teaching approximately 10,700 students (68% undergraduate; 26% graduate; 6% medical). A faculty of approximately 1,500 teach and administer programs in a variety of disciplines, including the humanities, life/medical sciences, physical sciences and social sciences. There are nearly 100 programs of study offered between undergraduate college, graduate school and medical school of the university. In 2022, the university awarded a total of 2,990 baccalaureate degrees and advanced (master, medical and doctorate) degrees.”

“Student aid, fellowships & scholarships brown provides 100 percent of demonstrated need for all aided undergraduate students that matriculate. The university is need-blind for domestic students (us citizens and permanent residents) and "need-aware" for international and transfer (both domestic and international) students. International and transfer students who do not apply for aid as part of their admission application may not receive need-based scholarships from the university. Forty-five percent of the undergraduate student body receives need-based financial aid. The average financial-aid package for the class of 2025 was $56,958. Since the class of 2007, all domestic undergraduates admitted as freshmen at brown university were admitted under the university's needs-blind admission policy.”

“Other program services (expenses $22,535,412) (revenue $20,071,202) the university engages in research in physical sciences, humanities, life sciences and social sciences. The university's research network features advanced academic institutes, centers and facilities that make our world renowned research possible. These facilities, which are made available to faculty and students, encourage discovery and innovation by providing state of-the-art equipment and resources.”

“Foreign accounts the organization has an interest in or a signature or other authority over a financial account in the following foreign countries: 1) italy 2) france”

“Actuarial Gain/Loss - Split Interest: $1,638,372 Change in Pension Obligation: $13,346,132 Change in Swap Liability: $26,224,039 Change in ARO Liability: ($974,016) TOTAL: $40,234,527”

“Brown university's financial statements include the accounts of the john nicholas brown center for the study of american civilization and brown faculty club. All of which are separate entities that are consolidated in the financial statements. Brown university and these consolidated entities are collectively referred to herein as the university. All significant inter-entity transactions and balances have been eliminated in consolidation.”